The pace over the past year of legislation and administrative and executive
activity designed to reform the corporate governance landscape has been
dizzying. However, those in the driver’s seat, including the U.S. Congress, the
SEC and the Treasury Department, expect public companies to be prepared when the
reforms become effective.
In order to assist those who will be impacted by pending and recently adopted
reforms, including our clients, McGuireWoods’ corporate governance team has
2009-2010 Corporate Governance Reforms Chart,
that provides information on:
- Pending federal legislation, selected state
statutes, and proposed and recently adopted rules of the SEC (including the
Proxy Disclosure Enhancements that go into effect Feb. 28, 2010).
- Legislative sponsors of the reforms.
- Governance areas impacted by the legislation, statutes and rules.
- Status of these reforms.
The chart is organized into the three areas impacted most significantly by
the reforms: (1) executive compensation, (2) boards of directors, and (3) proxy
access. Within these broader categories, the chart is further divided by
subtopics such as say-on-pay, golden parachutes, compensation consultant
independence, board declassification, enhanced director and nominee disclosure,
and shareholder nominations. Links in the chart will facilitate navigation.
In addition to providing reference tools like the Governance Reforms Chart as
a service to interested governance professionals, McGuireWoods regularly assists
clients in complying with their corporate governance and public reporting
obligations. We actively monitor developments and participate in legislative
activities relating to the issues discussed above. We are ready to assist you
with preparing to respond to any changes in the corporate governance area.